Note 39 Investments in subsidiaries and associates
€ million | Investments in subsidiaries | Investments in associates | Total |
Carrying amount as at 1 January 2015 | 2,256 | - | 2,256 |
Movements 2015 | |||
Dividends received | -339 | - | -339 |
Result for the year | 225 | - | 225 |
Issue of share capital | 76 | - | 76 |
Movement in revaluation reserve | 10 | - | 10 |
Other changes | -1 | 1 | - |
Total | -29 | 1 | -28 |
Carrying amount as at 31 December 2015 | 2,227 | 1 | 2,228 |
Movements 2016 | |||
Dividends received | -216 | - | -216 |
Result for the year | 84 | - | 84 |
Issue of share capital | 73 | - | 73 |
Movement in revaluation reserve | -8 | - | -8 |
Sale interest Endinet | -307 | - | -307 |
Other changes | 1 | - | 1 |
Total | -373 | - | -373 |
Carrying amount as at 31 December 2016 | 1,854 | 1 | 1,855 |
Dividends amounting to €216 million (2015: €339 million) were received in 2016 from the subsidiary Liander N.V. and the joint operation Utility Connect B.V. The investment of €73 million in 2016 relates to payment of share capital connected with the subsidiaries of Alliander N.V.
The dividends received from subsidiaries and payments of capital invested in them result from the capital restructuring of these companies in line with Alliander's policy each year.
The various share capital investments are listed separately under the heading ‘Principal subsidiaries, associates and joint arrangements’ at the end of this section.